States › Illinois › Spring Valley

Is Spring Valley, IL expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,01242% lower than U.S. average
💵 Families earn per year (2026)$76,140about $6,345/month · 13% lower than U.S. average
🔑 House price$153,30054% lower than U.S. average

Rent is lower than in 87% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 19.4 minutes.

How much money do I need?

To rent here comfortably, you should earn about $40,480 a year. That is $19 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

Yes. Rent here is cheaper than in most of Illinois. It is number 58 of 334 cities from cheapest to most expensive.

Spring Valley
$1,012
Carlinville
$911
Northfield
$2,304
Genoa
$1,040
Wilmington
$1,329
Candlewick Lake
$1,681
Lake Barrington
$3,500+

How much do households earn in Spring Valley?

Under $25k
10.2%
$25k–50k
29.0%
$50k–100k
36.2%
$100k–150k
16.1%
$150k+
5.9%

Share of households by yearly income. 22.0% of households earn $100,000 or more.

Rent by apartment size in Spring Valley

SizeSpring ValleyU.S. average
1 bedroom$637$1,324
2 bedrooms$1,130$1,509
3 bedrooms$1,250$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Spring Valley overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Spring Valley, so the Illinois figure is shown.

Taxes and bills in Spring Valley

🏛️ Property tax$3,487a year · 2.27% of home value · U.S. $3,119
⚡ Electric bill$198a month (typical) · U.S. $156

Life in Spring Valley

Commute to work19.4 minU.S.: 26.4 min
College degree16.9%U.S.: 35.7%
Own their home65.1%U.S.: 65.2%
Below poverty line7.2%U.S.: 12.5%
Unemployment2.7%U.S.: 5.2%

Is it cheaper to rent or buy in Spring Valley?

Renting is cheaper right now: about $52 a month less.

Renting
$1,012
Owning
$1,064

Owning assumes a typical $153,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $15,330 for the down payment.

Frequently asked questions

What is the average rent in Spring Valley, IL?

Renting in Spring Valley costs a median of about $1,012 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Spring Valley?

To keep rent under 30% of income, you need about $40,480 a year, or $19 an hour at a full-time job.

Is Spring Valley cheap or expensive?

Spring Valley is rated Cheap: rent takes 15.9% of the typical household income of $76,140. It ranks 58th cheapest of 334 Illinois cities we track.

How much are property taxes in Spring Valley?

The median homeowner in Spring Valley pays $3,487 a year in property taxes, about 2.27% of the median home value.

Is Spring Valley more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Spring Valley?

The median home value in Spring Valley is $153,300, about 2.0 times the typical yearly household income.

5,476 people live in Spring Valley. Numbers are typical (middle) values.